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CGX Energy and Frontera Energy, two Canadian companies dedicated to the exploration of petroleum and gas, announced a new discovery of petroleum in the Wei-1 pozo, located in the Corentyne block, about 200 kilometers from the coast of Guyana, located on one Press release.
The discovery has a total of 35 meters (114 feet) of net gain and was discovered with the assistance of NobleCorp’s Noble Discoverer semi-submersible drilling rig, at a water depth of approximately 583 meters ( 1,912 feet) for a total depth of six thousand 233 meters (20,450 feet), according to the aforementioned press release.
“The results further demonstrate the potential for development of shallow oil resources in the Corentyne block,” the two companies said in the joint press release, adding that to date they have discovered a total of 104 meters (342 feet ) net in the Corentyne block. .
Samples confirm high quality oil
The discovery was made in three sections: Maastrichtian, Campanian and Santonian (Cretaceous ages).
In terms of quality, that of the Maastrichtian period would be comparable to that of the Liza discovery in the Stabroek block. However, test results have so far only confirmed the presence of four meters of net thickness.
In this section, extracted fluid samples and log analysis revealed the presence of medium-sweet crude oil with a gas-to-oil ratio of approximately 400 standard cubic feet per barrel, the companies explained.
For their part, in the Campanian section, the results of petroleum analyzes also confirmed the oil with the discovery of 19 meters of net oil, almost entirely contained in an adjacent sand body with good porosity and extraction capacity, thus confirming the presence of light crude. oil.
Finally, in the Santoniana section, petroleum analyzes confirmed the presence of 12 meters of net thickness in a sandy terrain with indications of petroleum in the samples taken.
However, the current interpretation of the Campanian and Santonian sections shows lower permeability than the (high quality) Maastrichtian section.
Project costs for businesses
Total costs for the Wei-1 well are estimated at $185 million to $190 million, following the successful implementation of several initiatives, the companies added.
“The demonstrated presence of medium sweet crude oil in a high quality Maastrichtian reservoir in the Wei-1 well, combined with the previous discovery of 68 feet of hydrocarbons in the Maastrichtian sands in the Kawa-1 well in 2022, confirmed the significant potential of the Corentyne block,” said Gabriel de Alba, Chairman of Frontera and Co-Chairman of CGX.
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